Forum Replies Created
Dianne
I priced out an airless spray gun through one of the tool companies in Newcastle after doing the REno Kings course in Brisbane, and it was around $1500 to $1600 to buy. If you look at your quotes, and are going to do more, it would be worth while purchasing.
As with everything in investing, due diligence is crucial. Clients of mine were looking at investing with this company.
A search of Google of one of the principals, Victor Ollis, reveals a Hansard (QLD Parliament) reference.
See the 6th (page 10912 of Hansard) page of the pdf below;
http://www.parliament.qld.gov.au/handocs/1995.pdf/950221ha.pdf
It sounds great, but as Leigh questions, “Sounding too good to be true?”
Go in with your eyes open, do your research and know who and what you’re dealing with.
Regards
Hi folks
I operate a mortgage brokerage in Newcastle and am dealing with investors on a daily basis, and am an investor myself.
Walkernick’s mention of the Hunter Employment Zone is spot on. I spoke with a client this morning and his brother has been involved in getting it going over the past 4 to 5 years, and he believes that things will start happening in terms of employment (jobs) etc, which will increase demand for housing.
Raymond Terrace and Medowie are now starting to see some good growth (if you’d told me two years ago I would have laughed!) and new developments at the RAAF base Williamtown mean between 5 to 10,000 new jobs with the move of AWACS (planes with saucers on their backs), will also mean further demand.
Having said this, it is not easy to find positive cash flow properties, and as we all know, learn, learn, learn, research, research research..
If you’re from outside the Nctle area and want some info I’m more than happy to assist, and can be contacted by email [email protected].
Regards
As Trueblue and Terry said, the property needs to be up for rent. A sign in the yard indicating the property is available for rent would seem a good course of action, and perhaps a photograph of it in place, dated.
This still relates to the property settling this financial year.
Regards
Mark
Dave
You need to settle within this financial year.
Regards
Mark
Hi guys
I know Steve has prepared a fairly comprehensive report in the form of Wealth Guardian in terms of asset protection and structure.
Regards
Fullout
I should also mention that there will be no need for a credit check, therefore no reference on your credit file.
Fullout
I’m a broker and have our own badged product. If you give me a call tomorrow (12/6), I’m sure I can arrange something for you.
My office number is 02 49529910.
My email is [email protected] and my website is http://www.mortgagexchange.com.au .
It’s based on the entire loan amount..
Regards
The next three days are a pain in the tail in trying to get to someone who can give a straight answer as the majority of the lender representatives are at the MIAA’s (Mortgage Industry Association of Autralia) conference in Melbourne.
Would it help if I told you which hole and golf course they’ll be on Wednesday morning?
Seriously though, Homeside would consider another app from you, though may take time to process it.. What is in your favour is that they have all of the details, and on an 80% lend should be able to turn it around pretty quickly.
My personal office is in Newcastle, though like any brokers who’ve been in the industry for some time, we have clients Australia wide, and overseas.
I find it disturbing that you’re getting different signals from the broker, lender and mortgage insurer.
If you feel you hitting a wall give me a call and I’ll call someone inside Homeside..
Hi folks,
Similar to Tony29 I am a broker. I’ve been in the industry for 7 – 8 years, and if there is any advice I can give, it is that the lenders go through peaks and troughs in terms of service and turnaround times.Right at this moment Mortgage Professional Austalia is conducting a survey of brokers on banks and other lenders.
In addition to operating my own office, with staff, I am a director of an aggregator group, which holds the head agreements with the lenders, and underneath which brokers write their business.
It’s frustrating to one week have great service for clients, to the following week knowing the lender has fallen in a heap and that you might have clients go over the settlement date.
If you can find either a broker or a lender who can honestly cut through the garbage, let you know the picture as it actually is at the time you are borrowing, then you will be in front in saving time and dollars.
Westan mentioned Homepath, and I can relate that one of the brokers writing through my office, has success with them for investment, but that it took a little time.
If I can assist anyone with lending I can be contacted at [email protected], and web site
http://www.mortgagexchange.com.au.If anyone is interested in the results of the broker survey when it is completed, let me know and I will either email them to you or post the results.
Like everything else in investing, research and education is everything!
Fullout
Sounds like you’ve been right royally stuffed around. You’re welcome to call me in the morning at my office and I’ll try and help with advice.The problem is that you’re closing fast on the setllement date and most lenders at present are not exactly fast! GE also figure with many lenders as one of the other major mortgage insurers pulled the pin on lending about 2 months ago.
My contact is 02 49529910.
I noticed your thread last night, but waited until this evening to reply.
I’m a broker (7 years) and deal with Homeside regularly. I have written similar loans for clients, but just to be sure, checked with my business development manager today, and you can have 90% fixed five years interest only.
I think you should go back to the broker and check.
Dynamite
Me again.. Must be the time of day. What I meant is that the majors don’t mortgage insure, but that all the other lenders doing low doc have strict mortgage insurance guidelines.
Regards
Ozbroker
Dynamite
Within NSW, most of the big five lenders have or are in the process of introducing low doc loans. ANZ will lend to 60% LVR (loan to val ratio, St George will lend to 65% and Com Bank similarly. None of these are subject to mortgage insurance, which for low docs is heavily mortgage insured by a couple of the mort. insurers, and they have strict policy in terms of postcode.
I attended a lenders training day only last week and they had no problems with postcode..
Have the brokers you’ve spoken to put your situation to one of the majors?
I’ll make enquiries over the next few days..
Ozbroker
Hi APIM
If you’re looking for people to beta test your spreadsheet, I’d be happy to participate.
Warm regards and great investing..
